Understanding how your business is spending money is essential if you want to be able to save money. In our previous blog post, we discussed how important it is to review both OPEX and CAPEX costs. Now we will go over the importance of reviewing discretionary and non-discretionary costs. Both discretionary and non-discretionary costs are vital to look over if you wish to help your company save money. Furthermore, understand how your company spends these expenditures will help your business in the future as well. Discretionary and Non-discretionary Costs When it comes to saving money, it is important that you review all expenditures your business has. Usually, discretionary costs are the first ones to get cut, however, we encourage you to dig deeper when cutting costs. Looking at non-discretionary costs, such as infrastructure. Looking towards usage, service, and consumption levels is vital to making sure you are able to save money and cut spending on your IT department. Therefore, when cutting costs, make sure you inspect all your expenditures. It is vital to leave no stone unturned if you wish to truly cut costs. However, we understand that this can be quite difficult at times. Especially if you are unsure as to what is vital to the department on not. How Hammett Technologies Can Help We understand the difficulties many business owners face when dealing with their IT departments. It can be extremely difficult to determine where to cut costs and what to leave alone. However, with our help, you will never have to worry about that again. Hammett Technologies works with you to make sure you never have to worry about whether or not your business is wasting money on non-important items. Hammett Technologies walks with you to ensure that you understand all the ins and outs of how we are building your IT department.
No one ever said that cutting costs would be easy. In fact, it may be one of the most difficult things you will have to do when owning a business. Cutting costs means reduction, and reduction means people are sometimes let go. All of these can lead you to feel regretful, disappointed, and upset at yourself. However, as with any business, it is important that you maintain it so that it can remain healthy and sturdy, and that unfortunately means that costs must be cut at times. However, there is one useful tip to making cutting costs easier. On the First Try When it comes to cutting costs, attempt to do it all on the first try. Many, because of the negative feelings, do not go in as aggressive as they should when cutting costs, resulting in them having to do it repeatedly. Going about it this way ensures that you will never truly get to the root causes of monetary losses in your company, and will also force you to experience troubling, negative emotions more often. Therefore, going in as seriously as you can is vital to ensuring that not only are you saving money, but also avoiding future negative emotions surrounding the topic. Cutting costs is difficult. It is the harsh reality of the business world, but a necessary reality if businesses are to maintain their bottom-line. Do not be afraid of confronting and dealing with these harsh realities in your business. Hammett Technologies as a Partner Hammett Technologies understands that cutting costs can be difficult. As a small, family-owned business, we have had to deal with these harsh realities ourselves. However, through perseverance and patience, we have maintained our status and have proved that we can accomplish any tasks set out before us. We promise, as your business partner, to bring this same perseverance and patience to the table, ensuring that you not only understand our tactics to secure your cyber presence but also trust that we will have your back when you need us most. Hammett Technologies is your partner first, your IT Department second.
As an MSP, Hammett Technologies understands how important it is to save money without degrading the quality of service. However, when it comes to saving money, businesses often aim to “freeze” current subscriptions for a short while, going without services for a short time in order to save money. What is often overlooked is that this is a short-term money-saving strategy and will ultimately do nothing to help your business. Instead of “freezing” assets, look for areas in your IT department that can be reduced and cut back on permanently. Similar to our last post discussing how your business should target immediate impact areas, it is important to assess the importance of anything you are “reducing” from your business. Don’t Freeze, Reduce When it comes to saving money, it can be easy to cut back on some subscriptions and licenses that are not immediately necessary. However, this tactic often overlooks that that money-saving strategy only solves your business’s monetary concerns for a short time. You are not removing those subscriptions from your docket, rather you are “freezing” them. This means that, unless you are able to increase your business’s monetary income substantially, by the time it comes to renew those subscriptions and licenses, your business will be seeing red again. Hammett Technologies recommends that you begin to look for areas in your IT department that can be reduced and removed completely. This strategy, while more difficult, will result in your business being better able to track its profits and losses without worrying about “frozen items”. We understand that it can be difficult to track down and eliminate areas your IT department may not need any longer, but in order to ensure the safety of your business and those who are working for you, you must be able and willing to reduce, not only freeze assets. A Business Partner You Can Trust Ensuring that your business can stay afloat through pandemics, economic crises, and other serious situations is not only important to you, the business owner but to Hammett Technologies as well. As a family-owned, self-started business, we understand the lows and highs of the business world. We want your business to succeed, and we believe that by following these tips, it will not only succeed but thrive.
Picking the best version of Office for your business can be overwhelming. Microsoft 365 (formerly known as Office 365) and Office 2019 offer pros and cons that can difficult to see when browsing on Microsoft’s website. The plans offered by Microsoft 365 can also be overwhelming to look at if you do not entirely understand all the features that come with it. Let’s dive deeper into what each package offers so that you can make the most accurate decision! Microsoft 365: Business Standard Hands down the best option if your business needs access to all the applications Microsoft has to offer. Microsoft 365 is a cloud-based subscription service, with yearly or monthly renewal times. Microsoft also pushes continual updates to all the applications on Office 365, ensuring you have the latest, fastest, and most secure builds of Office applications, at all times. If you encounter issues with any updates or applications, Office 365 comes equipped with Customer Support features to assist. For businesses, Microsoft365 comes equipped with features such as: Teams (cloud-based chat platform for your company) Exchange (email) One Drive (cloud-based storage) SharePoint (similar to one-drive but offers more in-depth customization) Many of these applications are must-haves for businesses, but these added features come with a price. While the Microsoft 365 subscription begins with a $5/month fee, this package only comes with access to Teams, Exchange, One Drive, and SharePoint. For full access to all application (Word, Powerpoint, Excel, Access, etc.) Microsoft 365 requires a monthly payment of $12.50. It is important to note that while Microsoft 365 does offer support for Windows and Mac OS, Access and Publisher are PC applications only. If you are a Mac user, you will have to resort to these applications’ web versions, if needed. However, with so many applications built into Microsoft 365, there is the likely-hood that you may wind up paying for features you never use. There is also the possibility that Microsoft’s services may be down at some point, possibly preventing specific applications from functioning correctly. Microsoft 365: Business Premium For businesses that need more security and management opportunities for their workflow, Business Premium may be the option for you. This plan comes with all the features of Business Standard, but also includes: Intune – A program that allows for mobile device management, giving you the ability to decide how your businesses’ mobile devices (tablets, laptops, phones) are used. Azure Information Protection – A program that assists in protecting sensitive information such as emails and files. This process can be defined using labels and handled automatically, manually, or a mixture of the two. Benefits and Drawbacks from Microsoft 365 Business vs. Microsoft 365 Home vs. Office 2019 When choosing the best version of Office for your company, it is essential to weigh all your options. Microsoft 365 Business has multiple great programs that any business can stand to benefit from having. Its multiple plans allow companies to make informed decisions on what they want and gives them the ability to upgrade or downgrade. Furthermore, the business applications (Teams, One Drive, Exchange, and SharePoint) offer businesses with more in-depth customization options and a chat platform. Microsoft365 Family may look promising to some companies that are looking for a cheaper option. Microsoft 365 Family may be best for smaller businesses that do not need access to Teams or have their storage solutions. Office 365 Family comes equipped with all the base application Microsoft 365 Business Standard has (Word, PowerPoint, Excel, Access, OneNote, Outlook, and Publisher). However, as stated, it leaves out Teams, OneDrive, Exchange, and SharePoint. Possibly the biggest, and only, advantage Office 365 Family has is the pricing, allowing for six (6) individual users under the same license. Microsoft 2019 is another great platform, but only for companies that are just starting. The primary reason is pricing differences. Microsoft 2019 costs one payment of $150, giving access to the most popular apps (Word, PowerPoint, Excel, Outlook). However, that is about where the benefits end. Office 2019 is not regularly updated with patches and bug fixes; instead, only security updates are pushed out. Confused? If you are feeling overwhelmed or confused, don’t fret. We know this is a lot of information to take in and try to grasp. If you are worried you are not making the right purchase, consider giving us a call or sending us an email! Hammett Technologies is here to help with any and all your technological needs, no matter how big or small they may be.